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Sandor and CBOE Create Interbank Lending Exchange

We congratulate CFS Advisory Board Member, Dr. Richard Sandor on the creation of the American Financial Exchange (AFX) in partnership with Chicago’s CBOE Holding. Richard is a source on unending financial wisdom for the CFS, given his interest in policy and role in creating some of the most innovative financial products over the last 40 years. He is widely acknowledged as the “father of financial futures” and greenhouse gas derivatives.

Richard is now shifting his attention to a need for small and medium sized financial institutions to access short-term funding. CFS Advances in Monetary and Financial Measurement data corroborates unique monetary challenges faced by regional and local financial institutions.

AFX is an electronic marketplace for small and mid-sized banks to lend and borrow short-term funds. It will be aimed at the 1,740 US Community and regional banks with between $500m and $125bn in assets.